Unusual Options Activity
Air Products & Chemicals (APD)- 1,000 Aug $125 calls were purchased for $8.30. Earnings are due out on July 30th. This is Bill Ackman’s 2nd largest holding (9.65% stake).
Ingersoll-Rand (IR)- 20,000 Dec $62.50 calls were bought for $2.95-$3.20. Call activity was 38x the average daily volume. IR is down after their Q2 results, but they did reaffirm FY15 guidance.
LyondellBasell Industries (LYB)- There was a rollout from 12,500 Jan 2016 $100 calls ($3.30 credit) into 12,500 Jan 2016 $95 calls ($5.30 debit). They beat Q2 EPS and revenue estimates this morning. The stock is trying to find support at the 200-day SMA.
Navient (NAVI)- Over 3,300 Oct $15 puts were purchased for $0.60-$0.65. Typically trades 58 puts per day. Earnings estimates for 2015 and 2016 continue to fall and the downtrend that started earlier this year in the stock confirms … Read More »